Sun, September 26, 2021

business

SET maintains upward trajectory buoyed by oil demand forecast, foreign funds flow


The Stock Exchange of Thailand (SET) Index rose by 2.77 points, or 0.17 per cent, to 1,650.52 on Friday morning, witnessing a high of 1,657.79 and a low of 1,649.54 in opening trade.

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The SET Index closed at 1,647.75 on Thursday, up 13.27 points or 0.81 per cent. Transactions totalled THB101.41 billion with an index high of 1,652.03 and a low of 1,633.12.

Krungsri Securities expected the index on Friday to rise to between 1,655 and 1,660 points on positive sentiment of Opec+ raising oil demand forecast next year, a decline in US jobless claims in 17 months and foreign funds inflow.

However, it advised investors to beware of mass sell-offs of shares in response to signs of overbought stocks, as it would pressure the index.

It also recommended buying the following companies’ shares as an investment strategy:

▪︎ PTT, PTTEP, TOP and PTTGC, which benefit from rising oil price.

▪︎ AOT, KBANK, BBL, CPN, CRC, HMPRO, AAV, BA, MINT, AMATA and WHA, which benefit from the country's reopening.

▪︎ BANPU, CKP, GPSC, GULF, BCPG, BCH, CHG, BDMS, KCE, TU and EPG , whose third-quarter profit is expected to rise.

Published : September 03, 2021